HONG KONG, July 24 (Reuters) - Chinese battery and electric car maker BYD Company <1211.HK> expects to raise 2.85 billion yuan ($417.3 million) via a placement of not more than 100 million A shares, and said it would seek shareholder approval of the plan on Sept 8.
The proposal involves the listing of renminbi-denominated shares on the Shenzhen Stock Exchange, it said in a statement issued late on Thursday. The proceeds will be invested in the production of lithium ion batteries, expansion of an automobile parts and accessories unit, and the second phase of a solar battery manufacturing project.
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